Salik drives gains at Dubai Financial Market on Friday after announcement of 2 new toll gates

DUBAI (WAM)


The Dubai Financial Market (DFM) climbed higher on Friday, driven by a surge in toll operator Salik (SALIK.DU). The main index (DFMGI) rose 0.714 percent, fueled by a 5.180 percent jump in Salik shares after the company announced plans for two new toll gates - Business Bay Crossing on Al Khail Road, and Al Safa South on Sheikh Zayed Road - to optimise traffic flow and reduce congestion on key routes.

Meanwhile, the Abu Dhabi index closed 0.072 percent down, as IHC, ADNOC Drilling, ADNOC Gas and ADNOC Logistics Services fell 0.840 percent to Dh403.6; 1.490 percent to Dh3.970; 0.920 percent to Dh3.220; and 1.450 percent to Dh4.070, respectively.

Banking giants FAB and ADCB stemmed the losses with gains of 2 percent and 1.8 percent, respectively.

Adding to the upward momentum in Dubai, Emirates NBD Bank gained 1.450 percent after raising $450 million through a sale of 5-year Formosa bonds, according to an arranging bank document.